timelets

Makaeff v. Trump University, LLC, 715 F. 3d 254 - Court of Appeals, 9th Circuit 2013:

I. Donald Trump founded Trump University[1] because he has "a real passion for learning." Trump, who describes himself as Trump University's chairman, portrays the venture as the next step in his progression from real estate tycoon to educator. "My books and seminars have always included a strong educational or `lessons learned' slant.... [Trump University] grew out of my desire to impart my business knowledge, accumulated over the years, and my realization that there is a huge demand for practical, convenient education that teaches success." So born, Trump University took shape as a limited liability company offering real estate seminars and other training programs to would-be real estate investors. Its stated mission is to "train, educate and mentor entrepreneurs on achieving financial independence through real estate investing."
...
B. In August 2008, Tarla Makaeff attended Trump University's three-day "Fast Track to Foreclosure Workshop" at a cost of approximately $1,495, which Makaeff says she split with a friend. Makaeff describes the seminars as slick productions featuring carefully choreographed presentations, speakers blaring "For the Love of Money," the theme song from Trump's hit reality television series "The Apprentice," and Trump University representatives exhorting customers to raise their credit card limits, ostensibly to enable "real estate transactions," but actually to facilitate the purchase of the $34,995 "Trump Gold Elite Program."

This is a classic pyramid scam to phish for phools. Schiller's "Phishing for Phools" should be required reading in high school AP economics courses.